Suspect in P70-M pyramiding scam nabbed

A suspect accused of operating a pyramid scam was nabbed by local authorities in Pampanga over the weekend.

In an exclusive report on Monday, GMA News' "Unang Balita" noted the suspect, identified as Merrie Haezel Agustin, was put behind bars after duping as much as P70 million from investors.

Agustin supposedly promised the victims they would earn a 20-percent monthly interest. Some 50 people supposedly fell prey to the scheme, most of them doctors and businessmen.

The investors said they were able to receive a few checks after placing their investment, but after some time Agustin was nowhere to be found.

The suspect is currently detained at the Macabebe Municipal Jail. — Jon Viktor Cabuenas/VDS, GMA News